Gold is testing support at 1208/10!

gold 15.12.

As I wrote in my gold analysis from December 10., ‘the bulls have a lot of work here on the way up’, we can see that gold is stoped at December 09. exactly at 50.0 fibo return from the July 10. –> November 07. fall and back slowly to the support level at 1208/10 today, pushing down continuously with H4 down trendline in the last 4 days. For now MA200/H1, 38.2 fibo and previous resistance, now support 1208/10 could hold, but could the gold rebaund back up, let’s see!?

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4 comments

  • ‘Boom, shake the room’! Down to 1205!

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  • Support holds for 5 hours and then broke? Or this could be a fail brake at H4?

    Liked by 1 person

    • It depend which MT you are using for trade. There is deference in one hour H4 open/close. Where H4 is opened the new H4 candle this looks like the support is broken!? Still, this could be a fail, sure. It’s only 1 or 2 usd bellow the price. That’s usual and normaly at gold.

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      • Again acurate and well made my friend. Back to 1216. 🙂

        Liked by 1 person

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